Ethereum Price Rejected Again — Is Another Leg Lower Brewing?
Ethereum price started a fresh decline and traded below $1,980. ETH is now consolidating and remain at risk of another decline below $1,920. The first key resistance is near the $2,000 level. The next major resistance is near the $2,050 level. A clear move above the $2,050 resistance might send the price toward the $2,150 resistance. An upside break above the $2,150 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,250 resistance zone or even $2,280 in the near term. If Ethereum fails to clear the $1,960 resistance, it could start a fresh decline. Initial support on the downside is near the $1,920 level. The first major support sits near the $1,900 zone or the 61.8% Fib retracement level of the upward move from the $1,745 swing low to the $2,168 high. A clear move below the $1,900 support might push the price toward the $1,845 support. Any more losses might send the price toward the $1,800 region. The main support could be $1,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,900 Major Resistance Level – $2,000Downside Extension In ETH?
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